Fortis Dutch Fraud Suit Could Enable Non-US Claims

Law360, New York (January 10, 2011, 1:51 PM EST) -- Investors on Monday demanded that Fortis NV be held liable for fraud regarding its purchase of ABN Amro Holding NV, possibly bringing billion-dollar damage claims against the company in Dutch courts and helping foreign litigants circumvent U.S. Supreme Court precedent.

A foundation of international investors, the Stichting Investor Claims Against Fortis, filed its declaratory judgment complaint in the Utrecht Civil Court. While the foundation can not bring damages claims against Fortis, now known as Ageas NV/BV following a massive 2008 bailout, it will be allowed to...
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